Published September 17, 2015 at 8:53 PM Updated September 17, 2015 at 8:56 PM

The U.S. Federal Reserve leaders have decided not to go through with an interest rate hike, which would have been the first in more than nine years.

‘Fed’ officials decided to wait and watch how turbulence in global markets may impact the U.S. economy. CCTV’s Washington correspondent Daniel Ryntjes filed this report.

US Federal Reserve didn\'t hike interest rates after all

US Federal Reserve didn\'t hike interest rates after all

The U.S. Federal Reserve leaders have decided not to go through with an interest rate hike, which would have been the first in more than nine years. 'Fed' officials decided to wait and watch how turbulence in global markets may impact the U.S. economy. CCTV's Washington correspondent Daniel Ryntjes filed this report.

More details:

The U.S. Federal Reserve hesitation rests on how developments abroad could impact growth and how they are currently impacting inflation.

Members of the Federal Open Market Committee have also slowed down the already gradual pace at which they expect rates to rise in the coming years.

The impact of interest rates on the market
In December 2008, at the height of the financial crisis, the Federal Reserve slashed a key interest rate to near zero in a bid to boost the U.S. economy. Three months later on March 9th 2009, U.S. markets bottomed out with the U.S.’s S&P 500 falling below 700 for the first time in 13 years. Since then stocks have rebounded dramatically. CCTV’s Karina Huber filed this report on the impact of interest rates on the market.Follow Karina Huber on twitter @kkat31.

The impact of interest rates on the market

The impact of interest rates on the market

In December 2008, at the height of the financial crisis, the Federal Reserve slashed a key interest rate to near zero in a bid to boost the U.S. economy. Three months later on March 9th 2009, U.S. markets bottomed out with the U.S.'s S&P 500 falling below 700 for the first time in 13 years. Since then stocks have rebounded dramatically. CCTV's Karina Huber filed this report on the impact of interest rates on the market.

Business experts on US Federal Reserve’s interest rate decision
For more on the Federal Reserve’s decision and its impact, CCTV’s Phillip Yin spoke to Peter Morici, professor with the Robert H. Smith School of Business at the University of Maryland. They were joined by David Bahnsen, CIO of High Tower Bahnsen Group.Follow Phillip Yin on twitter @PhillipTKYin.

Business experts on US Federal Reserve\'s interest rate decision

Business experts on US Federal Reserve\'s interest rate decision

For more on the Federal Reserve's decision and its impact, CCTV's Phillip Yin spoke to Peter Morici, professor with the Robert H. Smith School of Business at the University of Maryland. They were joined by David Bahnsen, CIO of High Tower Bahnsen Group.